Canola Futures Surge Amid Crude Oil Gains
Canola futures posted gains on Thursday, coming close to reaching contract highs. The increase was partly attributed to the rise in crude oil and the Chicago soy complex, as well as concerns about weather conditions in parts of the Prairies that added to the firm tone.
The U.S. saw higher prices for soybean, corn, and wheat futures, with market positioning ahead of the monthly USDA supply/demand estimates a contributing factor on Friday.